California crypto-native investment firm Hack VC has launched a $200m crypto seed fund to invest in crypto, blockchain and web3 startups.
The fund is backed by Fidelity, Sequoia Capital, Accolade Partners, Digital Currency Group, Marc Andreessen and Chris Dixon of a16z and many more investors.
According to FinSMEs, the vehicle will invest in the aforementioned startup areas which include firms that are advancing the ‘next frontier’ of web3, including web3 infrastructure, DAOs and their tooling, NFT infrastructure, DeFi and more.
So far, the fund has invested in DeFi lending protocol Goldfinch Finance, web infrastructure provider Mysten Labs, NFT identity platform Yat, fixed-rate DeFi protocol Element.fi and blockchain metaverse game SynCity.
Hack VC has an in-house Crypto Lab, which is a technology platform that has a team of crypto engineers and quant researchers that provide support for crypto networks, governance for DAOs and liquidity provisioning in DeFi.
The firm also has a developer community with hack.summit, which is a large blockchain programmer event and a global community with over 130,000 attenders across 157 countries.
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